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6/7/2012 2:58PM

Fed Not Ready to Pull the 'QE' Trigger Yet

Federal Reserve Chairman Ben Bernanke told Congress that while the U.S economy still faces an assortment of risks, the Fed is not ready to to step in and take monetary action. WSJ's Brenda Cronin takes a seat on Mean Street with details. Photo: AP.

This transcript has been automatically generated and may not be 100% accurate.

... the ... your call ... the catch twenty two now where you have to work BOE sides of this to keep ... interest rates ... im normally low ... in you have to continue to buy Treasuries ... or will be paying so much on national debt that to the fiscal problems were looking at ... will complicate ... overnight I would question whether or not low interest rates recently enabling ... of fiscal ... deficits ... if we were to raise interest rates by a full percentage point ... that was still only raise the annual ... deficit buys something overlooked over a hundred billion dollars ... so ... as Ben Rene Kyi and the hot seat in Congress today I welcomed to mean Street I'm Dennis Berman of the law Street Journal ... The chairman of the Federal Reserve answering to us and congressional critics ... try to explain how the Fed is ... bouncing does the average difficult to pass up ... of full employment and interest rates Brenda Cronin ... from the Journal's economic climate is here to join us get up ... always great detail in burning keys on the hill on how would you rate today for ... all the while I would read today's performance in lesser terms as the thinking that the chairman of the things that are they supposed to do that ... with that on his gate on Tuesday ... well I didn't ... know anything it that's for sure ... aam but then as the carrier the veterans are things that he's not going to do that and ... understood that the Reserve Corps and speaking today earlier this week perhaps gave a few more hints about how Fed policymakers are thinking ... for Nanking the matter but the pace was from the question if I didn't really was shooting on on ... the key markets and hope that the monthly them ... some further Fed easing of quantitative easing ... on with their comments did did ... he added ... as a good friend walk to the jar Brenda for both the eighteen to try to parse the best that you could even his nonstate has been good to see any real fun ... I saw a few interesting aspects one is for small and very obvious concern about Europe that was very very clear ... and that also was very clear that the Facebook yesterday and different manifesting some of their economics I improving this point and and and moderate economic growth ... Europe remains a concern ... so we turned up against a picnic and one for her that that maybe some with me to see some payback now on the jobs market for them the gains early in the year ... translating down to the ... less declined the burn Anqi eyesight of the Web TV ... he was that was the only one that oppose the use of Christmas sales not with that they were either too much ... you will ... last month at the last ... but he also argues the law that that the fiscal Consol kept urging lawmakers renewed push for new push back and say ... we need to do with the response to him and so I think thinking ... it wasn't speaking on Message morning when it was down ... from Calgary to get a message ... from halfway around the world in China ... thus the Chinese interbank on thundery by one quarter percentage point on their day and so in India ... this this this this implication is that the very very big deal comments also an indication that China's seeing some need to ... you need money to stimulate the economy just a little bit and Worthing ripple effects of this throughout the world and we will see even more and more morning with the trade report is seen earning his comments about Chinese growth ... he he pointed to ... the sundial is a look and feel icky painted simplistic we all knew no overdue production Chinese brokerages and our price and to give the US economy would you say net net for and in that the Chinese growth is probably actually good for the U S economy ... I was a net buyer of ... everything from flipflops to ten speaker yes I think so ... aam I think ... that was in a very simple way to deliver the message that ... some consumers in the US are not feeling so bad because it seemed to throw a certain amount of talking to buy other stuff ... and we are assuming that ... but I think that ... the notion that the EU tiny amount and types of slowing off ... that is the community and it did to fit this into any non current export the carefully prefer to see if ... down the line and also China itself is worried about weak demand from us so ... as you see China's Muslim I am pretty much everything on this earth has offered it ... Marilyn Tron tanks and planes and the powerful ... from commodities to the expensive cars ... so it did they are seeing need to do so the midst of stimulus ... may have something to take note of the market ... I'm shocked that Congress did not see credit for lower while my friends that that that that they seem to suggest a politician ... I will ... the bodies of both of the price of the top ... of any last thoughts about deeply about the of the moon in Washington that you're picking up on ... it as a foreign policy with the election them in the fiscal cliff in the ... morning we were waiting for the next FOMC meeting and later this month and Roslin for the Greek elections on the seventeenth of June which will ... really show where things stand into the economy still ... in the euro zone ... okay so of ... another summer of ... I don't wanna wait one show when I last summer who ... has ... been a little bit of a solid note we may not know the government to retain your government ... well I thought it'd be like last summer instead of the worst because the failure of this for you to be hanging despite the little incremental moves by central banks are still the center of the central issue that needs to be so but Mark central banks ... taking cue from China and perhaps do something ... I mean in Europe